Hi doma,
The bible also reports that the world was made in seven days and that the sun moves around the earth and that floodwaters submerged the whole earth apart from Ararat and that language emerged from Babel.
It's not the place I seek scientific confirmation.
On the other hand, if I am to justify the tale, I may just as well suggest it originated amongst the pygmies or that the ancient Hebrews were also very little people.
Which reminds me - in reference to dig - there may not be giants but there were hobbits in Flores!